Friday, 25 October 2013 18:29
AXA Elevate assets up 45% to £6.9bn
Mike Kellard of AXA Wealth
AXA Wealth sees significant growth across its business with platform assets under management up to £6.9bn.
The AXA Wealth Elevate platform grew assets under management (AUM) by 45 per cent from £4.8 billion to £6.9 billion, says the company.
Assets also increased for Architas, AXA Wealth's specialist investment business, up 12 per cent from £11.3 billion to £12.6 billion. This growth helped increase AXA Wealth's overall assets by 18 per cent from £20.8 billion to £24.6 billion over the same period.
Overall AXA Wealth sales grew 67 per cent to £3.4 billion, reflecting a strong 12 months for the business.
Mike Kellard, chief executive officer, AXA Wealth, said: "It is very encouraging to be able to announce such a strong set of business results, building on the growth seen over the previous two years, and during one of the most difficult market environments since the 1930s.
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"I believe AXA Wealth is reaping the rewards of positioning itself successfully for the future, having been trading in an RDR-friendly manner for many years now. Indeed, we have been offering fee-based products years before it became a regulatory requirement to do so. The heritage of our business was formed on the principle of a clear and transparent customer-friendly suite of products.
"RDR has put the focus firmly on the customer, which is one of the best aspects of the new regime. This is part of our business philosophy, particularly around adviser partnerships and family investing, which we will continue to build on over the next 12 months. We know that most people don't invest just to sit on a pile of money - they invest to give themselves and those closest to them, flexibility and choice in the future. Helping them achieve it must be our prime purpose."
AXA Wealth is an IFP corporate member.
Business results summary (Q3 2013 over Q3 2012):
AXA Wealth Elevate
• Sales up 64 per cent to £1.5 billion
• September 2013 saw 75 per cent of inflows go into clean share classes
• Major enhancements recently made to the platform's navigation and integration
AXA Wealth Specialist products (SIPP, pension, onshore and offshore bonds outside wrap)
• Offshore AUM up 9 per cent from £8.1bn to £8.8 billion
• Overall pensions and onshore bonds, AUM up 14 per cent from £8.0 billion to £9.1 billion.
Architas
• Total assets up 12 per cent to £12.6 billion
• The popularity of the risk-rated funds continues with their addition on a number of leading wrap platforms.
Corporate Investment Services
• AUM up 35 per cent to £3.7 billion
• Sales up significantly to £976 million.
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